Renewable energy: Natixis CIB in the place of honor

Thursday, 25 may 2023

Natixis CIB has won the plaudits of The Banker, the benchmark financial magazine, for its role in the construction of India’s first ‘RTC’ wind and solar farm.

Natixis Corporate & Investment Banking arranged and coordinated this $985 million ‘green’ loan. With a total capacity of 1.3 GW, this wind and photovoltaic farm, built by the Indian company ReNew Power, will be backed up by battery storage systems enabling it to supply energy 24 hours a day.

These so-called ‘RTC’ projects (for ‘Round The Clock’) provide a solution to the intermittent nature of renewable energy sources, whose output varies according to the sunshine or wind conditions. By storing energy and releasing it to the power grid during peaks in consumption, they ensure that the supply of electricity to the grid is continuous.

The plant also contributes to India’s drive to achieve a 50% share of renewables in its energy mix: an ambitious objective considering the country’s strong rate of economic growth.

For this reason, the deal was singled out for praise by two leading financial magazines: The Banker named it the “Infrastructure and Project Finance Deal of the Year for India” and PFI (Project Finance International) honored it as the “Asia Pacific Green Deal of the Year.”

ReNew Power, a company founded in 2011, is a leading provider of decarbonization solutions and the first Indian clean energy company to be listed on the Nasdaq.  The company offers solutions in wind and solar power, green hydrogen, carbon markets, and energy storage.

Natixis CIB provides companies, financial institutions, financial sponsors, sovereigns and supranational entities with a comprehensive range of advisory, investment banking, financing, commercial banking and capital markets services. Its teams of experts, present in some 30 countries, advise clients on their strategic development, helping them to expand and transform their activities while simultaneously maximizing their positive environmental impact. Natixis CIB is committed to aligning its financing portfolio with a carbon-neutral trajectory by 2050, while helping its customers to reduce the environmental impact of their own business activities.

For further details, read the interview with Kwong Wing Law, Head of Infrastructure and Energy Asia Pacific, Natixis CIB.